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Security concerns warding off investors in Al-Mansouriya fields, Minister of Oil says

Category: Economy

Date: 2021-02-17T13:17:01+0000
Security concerns warding off investors in Al-Mansouriya fields, Minister of Oil says

Shafaq News/ The Iraqi Oil Minister, Ihssan Abdul-Jabbar, on Wednesday revealed to Shafaq News Agency the factors lingering the investment of al-Mansouriya gas field. 

Abdul-Jabbar said, "the ministry tendered al-Mansouriya gas field last year, but major companies such as Total, ExxonMobil, and Chevron were not interested due to the security tension."

"The offer made by Gazprom, a first-level company, did not match the requirements of the tender," he noted, "the companies currently competing are of the second level."

"Mansouriya and Akkas al-Ghazi can produce 500 standard cubic feets in three years if we start now," the Minister added. 

 Last October, the Ministry of Oil terminated the contract concluded with a consortium made up of Turkish (TPAO), Korean (Kogaz) and Kuwait Energy (Kuwait Energy) to invest Al-Mansouriya  fields after they failed to complete the project due to security tensions.

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